In a Sept. 26 research note, Dawson James Securities analyst Jason Kolbert reported that IsoRay Inc. (ISR:NYSE.MKT) launched a new marketing campaign called the The Power of Blu at the annual American Brachytherapy Science conference in June.
The purpose was to reintroduce IsoRay's Cesium-131 as Cesium Blu and introduce its new Blu Build real-time Cesium-131 brachytherapy delivery system. That system was subsequently used for the first time by a physician as a treatment for prostate cancer.
Kolbert pointed out that Blu Build allows the physician user to target a tumor directly. That capability and the shorter half-life of Cesium-131 versus other radioisotopes on the market allow for minimization of damage to tissue at and around the cancer site. The end result is improved quality of life for the patient.
Kolbert concluded, "With a competitive price and a customized procedure model, the stage is set for Blu Build to be an effective (efficacy and cost) treatment for not only prostate cancer, but also other hard to treat cancers in the brain, pelvis, gynecologic, head, neck, lung, colon and rectal areas."
The analyst also reported that IsoRay reported Q4 FY19 revenue of $1.9 million, with the preponderance of sales in the prostate cancer market during that period. This revenue resulted in $5 million on the balance sheet and a net loss of just over $1 million for the quarter.
Dawson James views the prostate cancer market as the real driver for IsoRay although opportunities exist in the non-prostate cancer market as well. The brokerage firm has a Buy rating and a $1 per share target price on IsoRay, whose stock is currently trading at around $0.33 per share.[NLINSERT]
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